541 West Lake Drive

Montauk, NY 11954

$2,643,000
Last Sold Price
Beds
2
Baths
4,985 Sq. Ft.
$530 / Sq. Ft.
4,985
Sq. Ft.
$530
per Sq. Ft.

Description

Located in Montauk Harbor, this commercial multi-use property is an excellent opportunity in a prime east end location. This property is situated in a high foot traffic area, surrounded by hotels, popular waterfront restaurants, the ferry terminal, shops, and marinas. The building has two units on the ground level totaling 4,985+/- sq. ft. and twenty-eight parking spaces. The larger unit, The Market, is a 4,000 +/- sq. ft. turn key, grocery market and deli with one half bath, kitchen area, walk-in...Located in Montauk Harbor, this commercial multi-use property is an excellent opportunity in a prime east end location. This property is situated in a high foot traffic area, surrounded by hotels, popular waterfront restaurants, the ferry terminal, shops, and marinas. The building has two units on the ground level totaling 4,985+/- sq. ft. and twenty-eight parking spaces. The larger unit, The Market, is a 4,000 +/- sq. ft. turn key, grocery market and deli with one half bath, kitchen area, walk-in refrigerator, and private office. This unit underwent an extensive renovation in 2016 where the electrical, insulation, flooring, air conditioning, mechanicals, kitchen equipment, and much more were updated. The second unit is 1,000+/- sq. ft. and is currently setup as a bike shop with a showroom and half bath. A pre-existing drive-through window, could also be incorporated into the new owners business plan. The second level has 3,000+/- sq. ft. of dry storage space with expansion possibilities. The property is zoned Central Business which allows a wide variety of commercial uses such as restaurants, offices, retail and personal services.

Listing Agent

  1. Chris Coleman

    Chris Coleman

    Listing Agent

    Compass

Property Details for 541 West Lake Drive

New Construction
No
Style
Traditional
Listing Type
exclusive
Unit Type
Single Family
Zoning
Central Business
Near Train Station
No

Location

Add your commute
LISTING UPDATED: 02/26/2022 03:36 PM

Property Details for 541 West Lake Drive

StatusSold
MLS #356776
Days on Market230
Taxes$6,600 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeHome for Sale / Single Family
Year Built1987
Lot Size0.64 AC
CountySuffolk County

Location

Add your commute

Building Information for 541 West Lake Drive

Stories2Year Built1987Building Size-Lot Size0.64 AC

Payment Calculator

$14,974 per month

30 year fixed, 7.25% Interest

Principal and Interest

$14,424

Property Taxes

$550

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 541 West Lake Drive

Summary
Location and General Information
  • Water Access: No
  • Near Jitney Sunrise Bus Line: No
  • Title: TURN KEY COMMERCIAL INVESTMENT IN MONTAUK HARBOR
  • Address: 541 West Lake Dr
  • Town Name: Montauk
Taxes and HOA Information
  • Tax Map Id: 0300006000300004000
Property
Lot Information
  • Lot With Trees: No
Interior and Exterior Features
Interior Features
  • Amenity Names: None / Mainland,Heat,GHA,Central AC,Hardwood Floors
  • Stories: 2

Public Records for 541 West Lake Drive

Taxable ValueLand$1,200Additions$5,400Total$6,600
Home Facts
Lot Size27,443 SqFtStyleMiscellaneous CommercialCountySUFFOLKAPN0300-006.00-03.00-004.000

Schools near 541 West Lake Drive

This home is within Montauk Union Free School District.
Rating
School
Type
Grades
Distance
Public - PK to 8
Rating
School
Distance
Montauk School
PublicPK to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY